W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 65.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 83,625 shares of the real estate investment trust's stock after purchasing an additional 33,160 shares during the period. Pinebridge Investments L.P.'s holdings in W. P. Carey were worth $4,556,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. National Pension Service acquired a new position in shares of W. P. Carey during the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the 4th quarter valued at approximately $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth $37,000. Bessemer Group Inc. increased its holdings in shares of W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of W. P. Carey during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $0.59 during midday trading on Wednesday, reaching $61.73. 954,040 shares of the company's stock traded hands, compared to its average volume of 1,177,008. The company has a market cap of $13.52 billion, a P/E ratio of 29.54, a PEG ratio of 1.06 and a beta of 0.81. The company has a fifty day simple moving average of $61.64 and a two-hundred day simple moving average of $58.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.77%. W. P. Carey's dividend payout ratio is presently 170.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank boosted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Evercore ISI raised their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $63.75.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.